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Chesapeake Gold Corp. is an exploration company focusing on the discovery and development of major gold-silver deposits in North and Central America. Chesapeake's primary asset is the Metates gold-silver project in Durango state, Mexico. Chesapeake also has a portfolio of exploration properties in Mexico comprising 58,367 hectares in the states of Durango, Sinaloa, Oaxaca, Sonora and Veracruz. In Nevada, the Company has entered into an agreement to sell its Talapoosa project to Christopher James Gold Corp. ("Christopher James") in exchange for a controlling interest in Christopher James. At the completion of the Chrisopher James transaction, Chesapeake will own approximately 85.3% of Christopher James (which will then be called Gunpoint Exploration Ltd.). In addition to its Christopher James holding, Chesapeake holds 650K shares of VRB Power Systems, 500K of New World Resources, 1M shares of Jayden Resouces (formerly Pinnacle Mines) and 148,231 shares of Lake Shore Gold Corp. [Source: MD&A June 2010 and June 24, 2010 News release.]
The Chesapeake Gold Corp. website is at www.chesapeakegold.com.
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This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-04-26.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2012-02-03 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$1,170.42 |
| Average Ore Value per Tonne | US$51.85 |
| Metal Value Leverage (MVL) | 114.19 |
| Market Capitalization as a Percentage of Metal Value | 0.9% |
| Recent Closing Stock Price | C$10.18 [note 1] |
| Fully Diluted Share Count | 47.47 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 88% |
| Percentage In Situ Inferred Resource | 12% |
| Metric | Value on 2012-02-03 |
|---|---|
| Gold Reserves + Resources | 19.80 M oz |
| Average Gold Ore Grade | 0.6 g/t |
| Market Capitalization per oz of Gold In Situ | US$24.58 ( C$24.41 ) |
| Gold Equivalent Ounces Estimate | 32.19 M oz |
| Market Capitalization per oz of Gold Equivalent | US$15.11 ( C$15.01 ) |
Note 1: Conversion rate used: 1 Cnd$ = 1.00682 US$
Note 2: Fully diluted share count taken from the share data webpage (viewed April 2011).
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | Silver | Zinc | ||
|---|---|---|---|---|---|
| Total Counts (reserves + resources) | 19.80 M oz | 528.72 M oz | 1.70 M t | ||
| Metal Prices in US$ (from 2012-02-03) | $1,725.90 / oz | $33.63 / oz | $0.96490 / lb | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $719.76 | $374.58 | $76.08 | ||
| Percentage of Total Metal Value | 61.50% | 32.00% | 6.50% | ||
| Metal Value Percentage Proven + Probable | 0% | 0% | 0% | ||
| Metal Value Percentage Measured + Indicated | 87% | 88% | 90% | ||
| Metal Value Percentage Inferred | 13% | 12% | 10% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | Silver | Zinc | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|---|---|
| Metates | Durango, Mexico | $1,170.42 ( 100.0% ) | US$51.85 | 19.80 M oz | 528.72 M oz | 1.70 M t | 0 | 88% | 12% |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
Metates is a a large undeveloped gold and silver deposit in Mexico. The gold-silver mineralization at Metates occurs in sulfide stockwork veinlets or disseminations in both intrusive and predominant sedimentary host rocks. Overall gold recoveries are expected to be in the range of 85% to 90% and sivler recoveries in the range of 80% to 85%.
A Preliminary Economic Assessment was completed in June 2010. Initial capital costs were estimated to be C$2.7B.
[Source: MD&A June, 2010]
Latest NI43-101 Report: Metates Gold-Silver Project Updated Preliminary Economic Assessment
2011-04-21 (183 pages).
Project Location: Durango, Mexico in the Sierra Madra Occidental mining region. View project on Google Map
Average Ore Value (all estimate types): US$51.85
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $624.85 | 17.19 M oz | 0.571 g/t | 936.14 M t |
| Silver | $330.51 | 466.51 M oz | 15.500 g/t | 936.14 M t |
| Zinc | $68.80 | 1.54 M t | 1,640.000 g/t | 936.14 M t |
Estimate notes: See Table 19.1 Mineral Resource—0.4 g/t Eq Au Cutoff Grade on p. 107 of 183 in the April 2011 technical report.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $94.91 | 2.61 M oz | 0.600 g/t | 135.32 M t |
| Silver | $44.08 | 62.21 M oz | 14.300 g/t | 135.32 M t |
| Zinc | $7.28 | 162.38 K t | 1,200.000 g/t | 135.32 M t |
Estimate notes: See note for Measured + Indicated.
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